CorTrust Bank National Association in Mitchell, South Dakota (SD), MN
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| CorTrust Bank National Association | |
|---|---|
| General | FDIC Certificate #: 6063 Status: Active Federal Reserve ID: 61355 Bank Holding Company (Regulatory Top Holder): Hopkins Financial Corporation (RSSDID: 1125740, Location: Mitchell, SD) Date Established: October 31, 1930 WWW: http://www.cortrustbank.com Trust Powers Granted: Yes Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC) Offices: 23 (Domestic: 23, Interstate: Yes) OTS Docket #: 9372 FDIC's unique #: 4091 Numeric code: 3 Regulator: OCC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes Ownership Type: Non-Stock FFIEC Call Report 31 Filer: No State Chartered: No Subchapter S Corporations: No Asset Concentration Hierarchy: Commercial Lending Specialization Date of Deposit Insurance: January 01, 1934 Last Structure Change Effective Date: September 11, 2009 Last Structure Change Process Date: September 14, 2009 Last Data Update: September 14, 2009 Data Source Date: April 05, 2012 |
| Location | Address: 100 East Havens, Mitchell, SD 57301 County: Davison Quarterly Banking Profile Region: Kansas City FDIC Geographic Region: Kansas City FDIC Supervisory Region: Kansas City FDIC Field Office: Sioux Falls Office of the Comptroller the Currency (OCC) District: Midwest Office of Thrift Supervision Region: West Core Based Statistical Area (CBSA): Mitchell, SD (#33580) CBSA Micro Statistical Area: Yes |
| History of Changes | Participated in FDIC Assisted Absorption/Consolidation/Merger Corrections |
| Financial Summary | Total assets: $666.8 mil Equity capital: $74.1 mil Deposits held in domestic offices: $557.2 mil Return on assets (ROA): 1.26% ($8.4 mil) Quarterly return on assets: 1.32% ($8.8 mil) Return on Equity (ROE): 11.65% ($8.6 mil) Quarterly return on equity: 11.80% ($8.7 mil) Net income: $8.1 mil Quarterly Net income: $2.2 mil Pretax return on assets: 1.81% ($12,069.6 mil) Quarterly Pretax return on assets: 2.12% ($14,136.7 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 186 |
| Total assets | $666,827 |
| Cash and due from depository institutions | $12,121 |
| Interest-bearing balances | $633 |
| Securities | $234,243 |
| Federal funds sold & reverse repurchase agreements | $15,095 |
| Net loans & leases | $365,940 |
| Loan loss allowance | $7,602 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $14,341 |
| Other real estate owned | $3,095 |
| Goodwill and other intangibles | $5,743 |
| All other assets | $16,249 |
| Life insurance assets | $666,827 |
| Total liabilities and capital | $592,702 |
| Total liabilities | $557,215 |
| Total deposits | $458,597 |
| Interest-bearing deposits | $557,215 |
| Deposits held in domestic offices | $92 |
| % insured (estimated) | 9244.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $17,000 |
| Other borrowed funds | $0 |
| Subordinated debt | $9,243 |
| All other liabilities | $74,125 |
| Total equity capital | $74,125 |
| Total bank equity capital | $74,125 |
| Perpetual preferred stock | $0 |
| Common stock | $2,959 |
| Surplus | $24,464 |
| Undivided profits | $46,702 |
| Memoranda | |
| Noncurrent loans and leases | $0 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $5,259 |
| Income earned, not collected on loans | $9,034 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $4,372 |
| Average Assets, year-to-date | $615,911 |
| Average Assets, quarterly | $196,710 |
| Volatile liabilities | $648,399 |
| Insider loans | $661,505 |
| FHLB advances | $435,933 |
| Loans and leases held for sale | $661,053 |
| Unused loan commitments | $2,132 |
| Tier 1 (core) risk-based capital | $2,132 |
| Tier 2 risk-based capital | $67,172 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $73,499 |
| Derivatives | $5,478 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $33,772 |
| Total interest expense | $6,886 |
| Net interest income | $26,886 |
| Provision for loan and lease losses | $1,762 |
| Total noninterest income | $12,981 |
| Fiduciary activities | $230 |
| Service charges on deposit accounts | $2,104 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $10,647 |
| Total noninterest expense | $26,362 |
| Salaries and employee benefits | $12,841 |
| Premises and equipment expense | $3,664 |
| Additional noninterest expense | $9,857 |
| Pre-tax net operating income | $11,743 |
| Securities gains (losses) | -$32 |
| Applicable income taxes | $3,568 |
| Income before extraordinary items | $8,143 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $8,143 |
| Net charge-offs | $0 |
| Cash dividends | $8,143 |
| Sale, conversion, retirement of capital stock, net | $3,541 |
| Net operating income | $2,959 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 5.65% |
| Cost of funding earning assets | 1.15% |
| Net interest margin | 4.50% |
| Noninterest income to earning assets | 2.17% |
| Noninterest expense to earning assets | 4.41% |
| Net operating income to assets | 1.26% |
| Return on assets (ROA) | 1.26% |
| Pretax return on assets | 1.81% |
| Return on equity (ROE) | 11.65% |
| Retained earnings to average equity (YTD only) | 7.41% |
| Net charge-offs to loans | 0.95% |
| Credit loss provision to net charge-offs | 49.76% |
| Efficiency ratio | 3.81% |
| Assets per employee | $66,027 |
| Cash dividends to net income (YTD only) | 3.59% |
| Condition Ratios (%) | |
| Loss allowance to loans | 36.34% |
| Loss allowance to noncurrent loans | 2.04% |
| Noncurrent assets plus other real estate owned to assets | 84.15% |
| Noncurrent loans to loans | 1.82% |
| Net loans and leases to deposits | 2.42% |
| Net loans and leases to core deposits | 65.67% |
| Equity capital to assets | 69.18% |
| Core capital (leverage) ratio | 11.12% |
| Tier 1 risk-based capital ratio | 10.16% |
| Total risk-based capital ratio | 15.41% |
| Memoranda | |
| Average assets | $17 |
| Average earning assets | $648,399 |
| Average equity | $69,915 |
| Average loans | $597,323 |
| Total Fiduciary and Related Assets (December 31, 2011) (Dollar figures in thousands) | |
| Total fiduciary and related assets | $1 |
| Number of Fiduciary Accounts and Related Asset Accounts | 1 |
| Fiduciary powers granted | Yes |
| Fiduciary or related activity | Yes |
| Managed Assets | $32,981 |
| Number of Accounts | 1 |
| Personal trust and agency accounts | $27,080 |
| Employee benefit-defined contribution accounts | $26,332 |
| Employee benefit-defined benefit accounts | $0 |
| Other retirement accounts | $0 |
| Corporate trust and agency accounts | $0 |
| Investment management agency accounts | $0 |
| Other fiduciary accounts | $748 |
| Fiduciary accounts held in foreign offices | $0 |
| Non-managed Assets | $0 |
| Number of Accounts | 15 |
| Personal trust and agency accounts | $0 |
| Employee benefit-defined contribution accounts | $0 |
| Employee benefit-defined benefit accounts | $0 |
| Other retirement accounts | $5,901 |
| Corporate trust and agency accounts | $5,901 |
| Other fiduciary accounts | $0 |
| Fiduciary accounts held in foreign offices | $0 |
| 1 Minnesota Branch as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 28 | 423257 | Woodbury Branch | 9740 Tamarack Rd, Woodbury, MN 55125 | June 21, 2004 | Full Service Brick and Mortar |  |
| 22 South Dakota Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 4091 | Cortrust Bank National Association | 100 East Havens, Mitchell, SD 57301 | October 31, 1930 | Full Service Brick and Mortar |  |
| 1 | 208654 | Letcher Branch | 2 Main Street, Letcher, SD 57359 | November 17, 1962 | Full Service Brick and Mortar | |
| 2 | 208655 | Mount Vernon Branch | Main Street, Mount Vernon, SD 57363 | October 01, 1973 | Full Service Brick and Mortar | |
| 3 | 208656 | Artesian Branch | Highway 34, Artesian, SD 57314 | December 15, 1977 | Full Service Brick and Mortar | |
| 4 | 208681 | Gayville Branch | Main Street, Gayville, SD 57031 | July 01, 1965 | Full Service Brick and Mortar | |
| 5 | 208682 | Tabor Branch | Main Street, Tabor, SD 57063 | July 01, 1965 | Full Service Brick and Mortar | |
| 7 | 208691 | Vermillion Branch | 101 West Main Street, Vermillion, SD 57069 | July 31, 1971 | Full Service Brick and Mortar | |
| 8 | 208696 | Yankton Branch | 110 Cedar Street, Yankton, SD 57078 | December 10, 1979 | Full Service Brick and Mortar | |
| 9 | 10368 | Leola Branch | 2 Main Street, Leola, SD 57456 | May 15, 1944 | Full Service Brick and Mortar | |
| 10 | 5747 | Bowdle Branch | 2 Main Street, Bowdle, SD 57428 | December 27, 1932 | Full Service Brick and Mortar | |
| 11 | 208698 | Southwest Branch | 1801 South Marion Road, Sioux Falls, SD 57106 | Febuary 18, 1992 | Full Service Brick and Mortar | |
| 12 | 208657 | Mitchell Branch | 719 North Main, Mitchell, SD 57301 | April 27, 1994 | Full Service Brick and Mortar | |
| 14 | 208658 | Sycamore Branch | 1900 South Sycamore, Sioux Falls, SD 57103 | October 30, 1995 | Full Service Brick and Mortar | |
| 15 | 208659 | South Minnesota Branch | 2101 South Minnesota Street, Sioux Falls, SD 57105 | July 15, 1996 | Full Service Brick and Mortar | |
| 16 | 208660 | Yankton Branch | 2404 Broadway, Yankton, SD 57078 | July 01, 1998 | Full Service Brick and Mortar | |
| 18 | 208662 | Arlington Branch | 114 S. Main, Arlington, SD 57212 | March 01, 1999 | Full Service Brick and Mortar | |
| 19 | 1099 | Webster Branch | 36 West 7th Avenue, Webster, SD 57274 | January 01, 1904 | Full Service Brick and Mortar | |
| 20 | 189979 | Pierpont Branch | Main Street, Pierpont, SD 57468 | June 17, 1974 | Full Service Brick and Mortar | |
| 22 | 358027 | Aberdeen Branch | 2016 6th Avenue, S.E., Aberdeen, SD 57401 | June 28, 1999 | Full Service Brick and Mortar | |
| 23 | 2591 | Freeman Branch | 174 East Fourth Street, Freeman, SD 57029 | May 02, 1902 | Full Service Brick and Mortar | |
| 26 | 468110 | Cliff Avenue Branch | 1220 East 57th Street, Sioux Falls, SD 57108 | August 20, 2007 | Full Service Brick and Mortar | |
| 27 | 473101 | Cherapa Branch | 300 North Cherapa Place, Sioux Falls, SD 57103 | January 07, 2008 | Full Service Brick and Mortar | |
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BankEncyclopedia.com does not guarantee the accuracy or timeliness of any information on this site. Use at your own risk.